Kinder Morgan is bringing all of its publicly traded units under one roof in a $70 billion deal that reshapes the financial structure of the oil and gas pipeline company.
The deal will create a company worth $140 billion including debt that combines Kinder Morgan Energy Partners LP, Kinder Morgan Inc. with Kinder Morgan Management and El Paso Pipeline Partners.
Kinder Morgan is purchasing the outstanding shares of the other three companies.
Holders of KMP, KMR and EPB shares will receive shares of Kinder Morgan Inc as well as possibly cash in the deal, which will consolidate the companies under KMI.
"This combined entity will be the largest energy infrastructure company in North America and the third largest energy company overall," said Chief Executive Richard Kinder in a statement.
The company expects the deal to close by the end of the year.
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